Two steps forward, one step back. As China recently released his white paper on the web 3 hinting at a littlehope for cryptocurrency in the country ruled by the Communist Party. However, the central bank for its part preferred to be hostile towards Bitcoin and its peers by choosing one of the sworn enemies of Bitcoin, Pan Gongsheng in place of senior central bank official of the Communist Party.
A skeptical Bitcoin at the helm of China’s central bank
“If you sit by the river and watch, one day Bitcoin’s corpse will float past you. »
These are the sweet words that Pan had one day in 2017 for the queen of cryptocurrencies. Far from hiding his disenchantment, this ambitious politician who led a group of the Central Bank on financial risks on the Internet knew how to climb the ladder as easily as he knew how to deal blows to the BTC.
Like cows clinging to each other on a small square of shade lost in a sunny field, Pan has also been able to enrich his anti-crypto arguments relying on some of his colleagues including the French researcher Eric Pichet:
“The Bitcoin bubble is just the latest incarnation of wild speculation. »
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Hong Kong and China: yin and yang in the face of cryptocurrencies
Two steps forward, one step back. China knows how to be inclined to open up a welcoming framework for cryptocurrencies, but not directly on its land. It would rather be for her to erect a solid wall between cryptocurrencies and the State.
On the other hand, and this is the whole duality of the country of the middle empire, Hong Kong, an independent province — although this remains debatable — continues to attract crypto companies with the aim of revitalize its economy towards a Web society 3.
While the Central Bank is positioning itself in the face of the emergence of Bitcoin and cryptocurrencies, Hong Kong therefore continues to serve as a rear base in order to still have a foothold in the blockchain. The Hong Kong rating agency (HKVAC) having even recently announced the creation of a crypto index composed of 30 different tokens.
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